Bitcoin ends the trading week near the area of 3894. BTC/USD quotes are trading above the upper limit of the Ichimoku Kinko Hyo Cloud. This indicates a bullish trend on Bitcoin. The forecast of the cryptocurrency exchange rate for the week of March 11 — 15, 2019. The fall in quotations and the test of the upper limit of the Ichimoku Kinko Hyo Cloud near 3750 are expected. Where should we expect an attempt to rebound and continue to develop the growth of the Bitcoin rate with a target above 4750.
Bitcoin Analysis and Forecast March 11 — 15, 2019
An additional signal in favor of the rise in the current trading week will be a test of the level of support. The second signal will be a rebound from the upper boundary of the model «Triangle». Earlier, a weak signal was received for BUY the Bitcoin. The signal was formed due to the intersection of signal lines at the level of 3510. The nearest resistance area is located at 4250. The area of support for Bitcoin is located at 3700.
Cancellation of the growth option of Bitcoin quotes will be the breakdown of the lower boundary of the indicator cloud and close below 3400. This will indicate a change in the upward trend in favor of the upward trend and the continuation of the fall. Expect to accelerate the growth of quotes BTC/USD stands with the breakdown of the area of resistance and closing above the level of 4150.
Bitcoin Analysis and Forecast March 11 — 15, 2019 suggests an attempt to develop a correction to the level of 3750. Where can we expect a rebound and continued growth of cryptocurrency with a potential target near the level of 4750. A test of the support level will be in favor of the rise. Cancellation of the growth option will be the fall and the breakdown of the area of 3400. In this case, we should expect the Bitcoin to continue to decline from the potential target at 2950.